Deutsche Bank Hires Three for U.S. Investment-Grade Credit Team

May 2 (Bloomberg) -- Deutsche Bank AG, Germany’s biggest
lender, hired three people for its U.S. investment-grade debt
group, including an analyst and two traders.

Anthony McCutcheon, an analyst covering technology, media
and telecommunications companies, will be joining from HSBC
Holdings Plc, according to Renee Calabro, a spokeswoman for the
bank in New York. Michael Gorun, who trades bonds of financial
companies, will come from Barclays Plc, and Yannis Giovanidis,
an index-options trader, joined from UBS AG on April 22, Calabro
said in a telephone interview.

Deutsche Bank is the fifth most-active underwriter of
investment-grade debt in the U.S. this year, from seventh place
last year, according to data compiled by Bloomberg. The notes
have returned 2 percent this year, according to Bank of America
Merrill Lynch index data, as the Federal Reserve holds benchmark
borrowing costs at about zero for a fifth year, spurring
investors to buy riskier assets.

Issuance from the most creditworthy to the riskiest
borrowers has surged to $1.43 trillion this year, topping last
year’s $1.41 trillion tally in the same period, Bloomberg data
show. Apple Inc., the largest U.S. maker of smartphones, sold
$17 billion of bonds on April 30 in the biggest U.S. corporate
offering on record. Deutsche Bank was one of the underwriters on
that sale along with Goldman Sachs Group Inc.